Employer Contributions

Earnable Salary

Under Ohio law, contributions are made on an employee's earnable salary. Not all compensation is considered earnable salary. The following are examples of what compensation may be included or excluded for purposes of contributions to OPERS.

Earnable salary includes amounts such as salary, wages, pay for sick or vacation leave used or converted in the year earned (except for state employees), pay for overtime worked or converted in the year earned, or longevity supplements.

Earnable salary does not include employer-paid amounts for insurance, reimbursement for job-related expenses, leave or overtime hours earned previously but converted in the current year, amounts paid as part of an agreement to retire, or incidental benefits such as cars.

Additional Annuity

The Additional Annuity Program is open to Traditional Pension Plan contributors and re-employed retirees contributing to a Money Purchase Annuity. Designed to supplement your retirement income, the Additional Annuity Program is an account, separate from your mandatory OPERS contributions, that allows you to deposit funds while working as a public employee.

As of Jan. 1, 2008, your deposits will purchase investment shares in the OPERS Stable Value Fund. As you work toward retirement your account is subject to the daily gains or losses of the Stable Value Fund and your potential earnings are tax-deferred until you retire or refund your account.